The directory of the Superintendency of the Securities Market (SMV) agreed a new promotional rate and the extension of the term of validity of those that are about to expire to encourage the incorporation of investors to the negotiation of public debt securities.
In addition, the SMV board reported that they will maintain the reduction of a 10% of the contribution rate applicable to issuers of capital securities (monthly contribution rate of 0.00315%) until December 31, 2022.
According to the SMV, this measure will favor the business financing In the current situation and will contribute to the economic reactivation, a temporary reduction of 50% of the rate foreseen for issuers of securities representing debt or credit (monthly contribution rate of 0.00175%).
It will also cause reduce customer transaction costs in securities lending operations and a greater rotation of variable income securities is favored. Additionally, it will contribute to a greater competitiveness of the market in terms of financing and investment costs compared to others, without affecting the financial viability of the SMV.
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This measure was accompanied by the decision of extend until December 31, 2022 the validity of the promotional contribution rate of 0% for companies that participate in the Alternative Securities Market (MAV), in order to reduce the obligations of issuers considering the situation affected by COVID-19.
Likewise, the SMV board agreed to extend until December 31, 2022 the monthly contribution rate of 0% for customers in the case of cash operations carried out with securities representing debt or credit issued by the central government.
In addition, it determined that they be carried out with securities lending operations, spot operations with equity securities on their own account carried out by brokerage agents, and spot operations carried out with participation units of Stock Market Funds or Exchange Traded Fund (ETF). Likewise, it approved maintaining the 40% reduction in the rate applicable to autonomous equity, mutual funds for investment in securities and investment funds.
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